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20130113
20130121
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and broadening opportunity for the middle class is shrinking our deficits in a balanced and responsible way. and for nearly two years now, i've been fighting for such a plan. one that would reduce our deficits by $4 trillion over the next decade. which would stabilize our debt, and our deficit in a sustainable way for the next decade. that would be enough not only to stop the growth of our debt relative to the size of our economy, but it would make it manageable. so it doesn't crowd out the investments we need to make in people and education and job training and science and medical research, all the things that help us grow. step by step, we've made progress towards that goal. over the past two years i've signed into law about $1.4 trillion in spending cuts. two weeks ago i signed into law more than $600 billion in new revenue. by making sure the wealthiest americans begin to pay their fair share. when you add the money that we'll save in interest payments on the debt, all together that adds up to a total of about $2.5 trillion in deficit reduction over the past two years. not counting the
in an administration, did any of the deficit deals that we did, were those occurring at the same time as debt ceiling raises? >> they all do. >> we've heard that that -- i'm not going to accept that, not going to do it, not the way it's done. we're not a banana republic. how many can you recall, deficit deals were affected? it's something that's done, is it not? >> standard operating procedure. we all learned about the power of the purse of democracy. back then, it used to be taxes because they couldn't borrow. now, you can borrow. taxes aren't the only strains what government can spend. the parliament and congress has to be able to control the borrowing level. that's government 101. >> is zit in g-- dis in geingeny we've already been to the restaurant and trying to stiff the bill? it wasn't the $800 stimulus or any of the things the president's done, it's congress? >> first, you're raising debt limits to cover future spending. fact one is the money hasn't been spent yet. that's not true. >> it's sort of disassembling. >> that's a good word for it. the second fact is congress hasn't approved the mone
is willing to talk about deficit reduction, perhaps modest reduction to healthcare spending. as long as it comes with curbing loopholes and tax reductions for wealthier individuals. congress should just do it. back to you. connell: let's bring in dylan glenn. former advisor to george w bush. rich said that republicans have reasons for not having this meeting today. the president is standing back and think i am not negotiating on this and the republicans are all over the map. >> i do not think that this is a big deal. i do not see that as a big issue. what is coming out of this weekend retreat is far more important. connell: i would like to be a fly on the wall for that. >> also what is important is to remember how we got here. he has run trillion dollar deficits for the past four years of his administration. you have to pass a budget in the united states senate. he will be doing his sort of constitution getting a budget up to the congress. this is a challenge. we have to have a clear look at how we can reduce spending in this country. connell: whenever the limit is actually reached a
'll win votes from independent swing voters and then i win on the deficit. >> you can -- >> on cutting regulations. where it matters. >> you can still be a principled conservative. this is all music to my ears. joe i got to take a break. stay with me. we'll have you back. i want to talk some about fiscal policies and what republicans should or should not do about that crisis. meanwhile we'll talk about it now. a group of leading conservatives joined forces on debt spending today. they penned an op-ed on why the threat of a default ought to be used to force a balanced budget a threat of a debt default. i believe this is completely dead wrong. i think it will lower our credit rating, damage our economy. by the way it's totally unworkable. but we got to talk. joining me now is the co-author of that op-ed. we bring back our friend, cnbc contributor a former bush white house deputy press secretary. let me begin with you mr. nino. i want to cut spending like nobody's business. you mess around with the debt ceiling i'm going tell you, buddy, the whole world, fiscally, economically and politic
. germany's problem is the reverse. it's been running a huge surplus which is the deficit of the other countries of europe that they cannot finance. >> correct. >> that is the essence of the european crisis. >> but in a global environment -- >> the whole question with respect to the u.s. is whether we can sustain our current account relationship with the rest of the world. and particularly with china. and that's a decision that the rest of the world will make. it's completely -- >> james, are we -- we added a new entitlement, obama care, which some, i don't know what that's going to cost. there's some groups, i guess they would call them, if they're too conservative, but trillions and trillions of dollars of additional entitlements that we've just layered over the entitlements we already have. are we at the right level now? is this the perfect level of promises we've made? or would you even go above where we are right now? >> well, i think the problem that we have is that our health care sector is bloated by this enormous private insurance system that we have. this sort of mixed bag of
and republicans. out of that, hopefully, some progress being made to get this deficit and debt under control. we believe our obligation is to help prevent a debt crisis from hitting this country. republicans have had a tough spot here. the president of united states as he is not negotiating the debt ceiling. he says it is simply up to congress. it is due to spending that is already approved. the majority of republicans voted against the deal because there were no spending cuts. this was the first strategy session. we are going to have these fights throughout the spring. back to you. cheryl: we just had a guest trying to tell us to avoid the noise in washington. thank you very much, rich. dennis: let's take a look at apple shares right now. down five dollars. 1%. another tip today. an analyst says do not hang up on the iphone maker. that cancellation of orders for iphone parts, it is not tied to sell drop in demand for iphone5. apple is moving toward so-called -- screens from different suppliers. analyst who are usually critical of apple came out and said, look, this recent sellout, way overdone.
from the social media giant. plus, senator rob portman on the deficit battle shaping up in congress. "squawk box" starts tomorrow at 6:00 a.m. eastern. let's go. ♪ ♪ ♪ [ male announcer ] introducing the all-new cadillac xts... another big night on the town, eh? ...and the return of life lived large. ♪ nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office. executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national. because only national lets you choose any car in the aisle...and go. you can even take a full-size or above, and still pay the mid-size price. now this...will work. [ male announcer ] just like you, business pro. just like you. go national. go like a pro.
Search Results 0 to 6 of about 7